- A Swiss financial adviser has been charged with helping more than 60 U.S. taxpayers hide more than $184 million in Swiss bank accounts and move assets from UBS AG to other Swiss banks to avoid getting caught.Beda Singenberger, owner of Zurich-based Sinco Treuhand AG, was indicted on a charge of conspiring to hide clients income from the Internal Revenue Service from 1998 to 2009, the office of U.S. Attorney Preet Bharara in Manhattan said.
The indictment came nearly 2-1/2 years after UBS avoided U.S. criminal prosecution by agreeing to pay a $780 million penalty and admitting it helped Americans hide income from the IRS. Criminal charges were formally dropped last October.
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